:GitLab Inc, a coding platform backed by the likes of ICONIQ Capital and Khosla Ventures, revealed rapid growth and wider losses when it filed for a U.S. initial public offering on Friday.
According to the filing, GitLab generated revenue of US$108.1 million for the six months ended July 31, an increase of 69per cent year-over-year. However, it incurred a net loss of US$69 million in the same period, compared with US$43.6 million a year earlier. The company, whose entire workforce of 1,350 in over 65 countries has been operating remotely since its inception in 2014, began as an open source project three years prior to that.
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